BitMine Chairman Tom Lee: Buying 100,000 ETH Weekly, Aiming to Hold 5% of Supply
Tom Lee, Chairman of BitMine, stated at the Consensus Miami 2026 conference that the company is currently purchasing about 100,000 ETH weekly. At this rate, it will reach its goal of holding 5% of the total Ethereum supply in about 6 weeks, but is evaluating whether to slow down the buying pace in favor of executing a $4 billion stock buyback plan.
BitMine generates over $300 million in annual income from staking ETH, with daily cash flow exceeding $1.2 million, and currently holds about $700 million in cash reserves.
Tom Lee believes that if Bitcoin's closing price at the end of May is above $76,000, it will mark three consecutive months of gains, officially ending the bear market.
For Ethereum's target price, he provided three scenarios:
If Bitcoin reaches $250,000 and ETH/BTC returns to 2021 highs → ETH around $22,000
If ETH/BTC reaches an extremely optimistic level of 0.25 → ETH around $62,000
If tokenization experiences a massive explosion and Ethereum becomes the main settlement layer → ETH around $250,000
Source: Public Information
ABAB AI Insight
Tom Lee is leading BitMine to shift the company's strategy from traditional business to large-scale Ethereum allocation. This public buying pace and buyback evaluation continue his path of "building a crypto asset balance sheet with stable cash flow." BitMine has formed a positive feedback loop of "staking income → continuous buying → expanding staking scale," with a strong execution capability supported by its daily cash flow of $1.2 million.
In terms of capital strategy, BitMine is weighing the priority between increasing ETH holdings and the $4 billion buyback, maintaining flexibility through high cash reserves. At the same time, Tom Lee's optimistic target prices aim to signal a long-term bullish outlook to the market, attracting more institutional interest in Ethereum's potential as a settlement layer and tokenization platform.
Similar to MicroStrategy's treasury strategy with Bitcoin, BitMine is currently in a phase of transforming its corporate asset allocation to an Ethereum-focused publicly listed company.
Essentially, this represents capital concentration: BitMine's systematic weekly purchase of 100,000 ETH concentrates corporate cash flow heavily into Ethereum, restructuring capital from traditional business into a dual-driven model of crypto staking and asset appreciation. Mechanically, it amplifies leverage through large-scale holdings and staking income, promoting Ethereum's transition from retail asset to institutional/corporate treasury standard asset.
ABAB News · Law of Cognition
When companies systematically buy crypto assets with daily cash flow, the cycle has entered the institutional allocation phase. True long-term holding is not impulsive but involves fixed weekly purchases and continuous staking to generate cash flow. Signals of the bear market ending often come when the strongest cash flow companies start evaluating whether to continue buying.